Tata Real Estate and Infrastructure Limited Plans 20,000 Crore Investment

May 28, 2009	(1 votes, average: 5 out of 5)  Loading ...
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TRIL has hired Sanjay G. Ubale, a former IAS officer to head its real estate and infrastructure foray. Tata Realty & Infrastructure Limited (TRIL), a wholly-owned subsidiary of Tata Sons, has unleashed it mega investment plans for the sector. The company, part of a $62.5 billion Tata group, has said that it plans to develop real estate and infrastructure projects of around Rs 20,000 crore in next three years. It has raised a $700 million offshore fund to invest in its real estate project for the same. TRIL has hired a former IAS officer to head its real estate and infrastructure foray. Sanjay G. Ubale, MD & CEO of TRIL, was till recently Secretary, Special Projects with Government of Maharashtra, where he was responsible for redevelopment and transformation of Mumbai. The projects are being developed with various strategic partners. The $700 million fund is based out of Mauritius, and 18-20% of the capital has already been deployed.

The company has also announced several real estate projects it’s developing, which include IT/ITES SEZs at Chennai, Ahmedabad and in Hinjewadi. TRIL is also developing a 7 lakh sq. ft. retail complex in Amritsar, adjacent to which Taj hotels would also open a property. It is also evaluating a residential and mixed use development on a 35 acre plot at Gurgaon. For its infrastructure push, TRIL has partnered with a number of overseas companies. Its focus areas in infrastructure are roads and bridges, urban infrastructure (comprising metro/monorail projects), airports and logistic parks. Some of the projects it is considering are Metro projects (in partnership with Mitsubishi Corporation), New Delhi Railway Station redevelopment (with Grandi Stazioni), Amritsar & Udaipur Airports (with Changi Airports India), and roads & highways (with Atlantia S.p.A).

TRIL has already won its first highway project. Through its subsidiary Navinya Buildcon and partner Atlantia S.p.A, TRIL has been awarded the 4-laning of Pune-Solapur Highway by the National Highways Authority of India (NHAI). Atlantia, one of Europe’s largest toll motorway builder and operator, manages over 3,400 Kms of highways in Italy. The Pune-Solapur highway is a 110 kms long stretch with a project cost of Rs 1400 crore.

News Published Under:   Chennai, Real Estate Trends |

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